Allison Transmission (NYSE:ALSN) Price Target Cut to $95.00 by Analysts at Citigroup

Allison Transmission (NYSE:ALSN) had its price objective decreased by Citigroup from $108.00 to $95.00 in a research report released on Tuesday morning,Benzinga reports. Citigroup currently has a neutral rating on the auto parts company’s stock.

A number of other analysts have also issued reports on ALSN. StockNews.com lowered shares of Allison Transmission from a “buy” rating to a “hold” rating in a research note on Thursday, March 27th. Morgan Stanley lifted their price target on shares of Allison Transmission from $110.00 to $112.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 17th. JPMorgan Chase & Co. decreased their target price on Allison Transmission from $129.00 to $110.00 and set a “neutral” rating for the company in a research report on Tuesday, March 18th. Finally, The Goldman Sachs Group lifted their price objective on Allison Transmission from $82.00 to $94.00 and gave the company a “sell” rating in a report on Thursday, December 12th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $99.50.

Allison Transmission Stock Down 1.0 %

NYSE ALSN opened at $83.82 on Tuesday. Allison Transmission has a 52 week low of $71.49 and a 52 week high of $122.53. The firm has a market capitalization of $7.14 billion, a price-to-earnings ratio of 10.09 and a beta of 0.95. The company has a quick ratio of 2.42, a current ratio of 3.04 and a debt-to-equity ratio of 1.45. The company has a fifty day moving average of $100.63 and a two-hundred day moving average of $106.41.

Allison Transmission (NYSE:ALSN) last posted its quarterly earnings data on Tuesday, February 11th. The auto parts company reported $2.01 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.11. Allison Transmission had a net margin of 22.67% and a return on equity of 47.95%. On average, analysts predict that Allison Transmission will post 9.06 earnings per share for the current year.

Allison Transmission Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.29%. The ex-dividend date was Monday, March 3rd. This is a positive change from Allison Transmission’s previous quarterly dividend of $0.25. Allison Transmission’s payout ratio is 13.00%.

Allison Transmission declared that its board has initiated a stock buyback program on Thursday, February 20th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the auto parts company to repurchase up to 57.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Insider Transactions at Allison Transmission

In related news, VP Ryan A. Milburn sold 4,546 shares of the company’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $96.20, for a total transaction of $437,325.20. Following the transaction, the vice president now directly owns 14,138 shares of the company’s stock, valued at $1,360,075.60. This represents a 24.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP John Coll sold 1,788 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $95.33, for a total value of $170,450.04. Following the completion of the sale, the senior vice president now directly owns 15,388 shares of the company’s stock, valued at approximately $1,466,938.04. This represents a 10.41 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Smith Group Asset Management LLC acquired a new position in shares of Allison Transmission in the 4th quarter valued at $2,161,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Allison Transmission by 18.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 293,753 shares of the auto parts company’s stock valued at $31,643,000 after purchasing an additional 46,435 shares during the period. Teacher Retirement System of Texas raised its stake in shares of Allison Transmission by 14.5% in the fourth quarter. Teacher Retirement System of Texas now owns 53,014 shares of the auto parts company’s stock worth $5,729,000 after purchasing an additional 6,728 shares during the last quarter. Convergence Investment Partners LLC lifted its holdings in shares of Allison Transmission by 115.6% during the fourth quarter. Convergence Investment Partners LLC now owns 13,950 shares of the auto parts company’s stock worth $1,507,000 after purchasing an additional 7,479 shares during the period. Finally, Franklin Resources Inc. boosted its position in Allison Transmission by 46.8% in the third quarter. Franklin Resources Inc. now owns 250,050 shares of the auto parts company’s stock valued at $24,955,000 after buying an additional 79,745 shares during the last quarter. Hedge funds and other institutional investors own 96.90% of the company’s stock.

Allison Transmission Company Profile

Allison Transmission Holdings, Inc, together with its subsidiaries, designs, manufactures, and sells fully automatic transmissions for medium- and heavy-duty commercial vehicles and medium- and heavy-tactical U.S. defense vehicles, and electrified propulsion systems worldwide. It provides commercial-duty on-highway, off-highway and defense fully automatic transmissions, and electric hybrid and fully electric systems.